What is a Broker Exchange?

With a cryptocurrency broker site, you can buy and sell Bitcoin as well as other popular virtual coins such as the Ethereum currency, Ripple altcoin, and Bitcoin Gold.

A broker isn’t technically an exchange like a fiat-crypto exchange or a peer-to-peer exchange is, because you don’t own the cryptocurrencies (or other assets) you buy on it. This has its benefits because a forex broker allows you to invest in Bitcoin and altcoins without “putting your eggs in one basket” if you will.

In addition to it being somewhat safer, investing at a broker is easier: You don’t need to set up a wallet for each cryptocurrency you’re interested in. On the contrary, you can start right away. You don’t need to be an expert on cryptos, on investing or on using trading platforms to get going.

To find the very best broker around, we can start by looking at the most popular sites of this type. These are sites and apps where millions of investors have already invested their money and have left positive reviews of the service provided. We have reviewed a great number of them and have gathered together here five of the very best broker exchange options for you to consider.


If you want a regulated, highly reputable place to buy some Bitcoin then eToro is a smart choice to make. As you’ll read in our eToro review, it is a social trading network, and it is certainly a service that is trusted by millions of people in over a hundred countries around the globe. eToro is regulated by CySEC and compliant with MiFID.

Advantages of eToro

–  Highly regulated crypto broker, which is important as Bitcoin itself isn’t regulated-  Huge user base spread all over the planet-  Copy trading feature lets you mimic the experts and make the same moves –  Fast and efficient trading platform that it is easy to use-  Real-time trading available-  Wide range of trading options such as CFDs

Disadvantages of eToro

–  Not currently available for US investors-  Site can sometimes be slow

24 option

As you can see from our comprehensive 24 Option review, this Bitcoin broker started out by offering forex and binary trading to its users. 24 Option is fully regulated and now offers a range of cryptocurrencies on investments like CFDs. The mobile app lets you carry out mobile trading wherever you are.

Advantages of 24 Option

–  Fully regulated investment broker-  Secure site, never been hacked-  24/7 trading –  Mobile app means more flexibility-  Intuitive platform that you will get to grips with quickly

Disadvantages of 24 Option

–  The withdrawals fees can be on the high side-  Not a particularly extensive range of cryptocurrencies to choose from-  You need to deposit to use the demo account


Our in-depth look at PaxForex showed us that this site offers a wide range of currencies and types of account, as you would expect from one of the best broker sites. The PaxForex platform has been in business since 2010 and now provides Bitcoin and Ethereum trading as well as traditional fiat currency options.

Advantages of PaxForex

–  Extensive training available for beginners-  You can choose from Mini, Standard and VIP account options-  Powerful MT4 trading platform lets you trade effortlessly-  Speedy withdrawals

Disadvantages of PaxForex

–  Fairly limited amount of cryptocurrency options-  Some negative reviews by unhappy customers who have struggled to withdraw funds


We have also reviewed the XTrade site to see what it has to offer in this type of cryptocurrency investment. The XTrade site is a CFD and forex broker that includes the likes of Bitcoin, Litecoin currency, Dash, Ethereum and the Ripple coin in a fairly lengthy list of currencies that they offer trading possibilities on.

Advantages of Xtrade

–  A good number of cryptocurrencies included-  Mobile trading app available-  Regulated by CySEC-  Easy to use, intuitive platform

Disadvantages of Xtrade

–  Fairly highly minimum amount on initial deposit-  Commission is too high for some

Do Broker Exchanges Suit Beginners?

Are you completely new to this way of trading? If you are then you will want to find an easy to use platform that you can get going on without any hassle. After looking at the industry through expert eyes, we’ve decided that eToro is our choice of the best broker exchange thanks to features such as the intuitive set up and the CopyTrader function that lets you copy expert investors, benefitting from their knowledge. You can start trading in no time on here.

Can you Day Trade on Broker Exchanges?

It is possible to day trade in this way. However, it is worth bearing in mind that eToro told us that they “believe in cryptocurrency in the long term” and hope that their customers hold these currencies for longer. Day trading requires rapid decision-making skill so might not be right for you if you are new to this sort of investment.

Which Broker Exchange Should You Choose?

The flexible and welcoming service provided by the brokers above makes them highly recommended choices as your broker exchange for Bitcoin and other currencies. Simple to use and with great features, they each offer an easy way to get started on investing in cryptocurrencies. By finding the best broker exchange for your needs you can enjoy investing with confidence.

The best broker exchange for 2019 is, in our opinion, eToro. With a solid set of features and a welcoming site, it is suitable for any type of investor, new or old. Register today to get the very best deals and to buy Bitcoin in a way that suits you perfectly.

Also, see our guides on fiat-crypto exchanges, crypto-crypto exchanges, and peer-to-peer exchanges for even more options.

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